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Waiting to Buy a Home?

Wednesday, February 10, 2016   /   by Nicole Solari

Waiting to Buy a Home?

In December, the Federal Reserve raised the key interest rate by a quarter-point to a range of 0.25% to 0.5%, the first rate increase in nearly a decade. While some experts expect the Fed to raise rates gradually this year, some economists expect rates to increase three or four more times this year. Increases are anticipated to amount to a quarter-point each time, and when they do occur are sure to impact mortgage rates. What’s a homebuyer to do? 


While a quarter-point increase in interest rates doesn’t seem like much, it could mean the difference of hundreds of dollars a month in your mortgage payment, depending on the price of the home, your interest rate, how much you’re borrowing and the size of your down payment. This is money you could use to renovate, go on vacation or save for retirement. 


 • Get pre-qualified for a mortgage if you haven’t done so already. Getting pre-qualified means you can spring into action when you find the home you want to buy. I work with great lenders in our area. If you’re looking for a lender you can trust, let me know and I’d be happy to connect you with someone from my network. 

 Narrow down your search criteria. What neighborhoods do you have your eye on? Do you want three or four bedrooms? Do you want a big yard or no yard at all? This list goes on and on. While buying a house is a process of elimination, not a process of selection, the more you know what you want, the better prepared you are to make the right decision. 

• Get hunting. If you’ve been passively house hunting online, now is the time to ramp up your search. Let me know what you’re looking for and I’ll work with you to find a great home that meets your criteria. 

Don’t wait for another rate increase to buy. 

Call me today to discuss the home buying process and your options within our local real estate market! 


Nicole Solari, 
Realtor®, SRS®

RE|MAX Gold BRE# 01952567

707.486.5400 | nicole@solariteam.com

Level Up Realty
Nicole Solari
490 Chadbourne Road, Suite A123
Fairfield, CA 94534
DRE# 02014153

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:March 26, 2023
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